New Delhi, Nov 23 (IANS): While foreign institutional investors (FIIs) are buying in huge quantities in the Indian stock markets every day, taking the benchmark indices to new highs, the domestic institutions have been net sellers almost every day in the last few days.

The investing behaviour of the foreign and domestic institutions exhibits a divergence in approach with markets now at lifetime highs.

On Novermber 20, FIIs were net buyers to the tune of Rs 3,860.78 crore. On the same day, domestic institutional investors (DIIs) or insurance companies and mutual funds were net sellers to the tune of Rs 2,868 crore.

On the previous day, November 19, FIIs were net buyers to the tune of Rs 1,180.56 crore while DIIs sold Rs 2,854 crore. On November 18, FIIs bought Rs 3,071 crore while DIIs sold Rs 2,789 crore.

On November 17, FIIs bought heavily to the tune of Rs 4,905 crore while DIIs sold as heavily to the extent of Rs 3,829 crore.

The heavy buying of the FIIs is being countered by the heavy selling of the DIIs but the markets have only been going north.

In November, FIIs have been heavy buyers of more than Rs 50,910 crore while DIIs have been heavy sellers to the tune of Rs 35,608 crore.

Equity mutual fund witnessed net outflows in October as investors continued to sell their equities through mutual funds.

Equity mutual funds have been witnessing net outflows for the last five months consecutively. This trend may be a reason for muted play by the DIIs as opposed to the aggressive purchases by FIIs.

FIIs are enthused by the sharp economic recovery in India and hopes of a vaccine for Covid-19 which will further normalise the economic activity.